Argentine inflation eases in May, remains high

BUENOS AIRES: Argentine inflation eased to 1.4 percent in May from 1.8 percent in April, marking the fourth consecutive month of deceleration, Economy Minister Axel Kicillof said on Friday.

The reading came in below even the lowest forecast in a Reuters poll of nine analysts for a 1.5 percent rise in consumer prices. The median forecast was for a 1.9 percent gain.

Latin America's No. 3 economy has one of the world's highest inflation rates in the world.